ADP reported US seasonally adjusted private nonfarm payrolls rose 44,000 in July, below June’s revised 95,000 and the 75,000 consensus. All net gains were in services (+47,000); goods employment fell 3,000. Education and health added 36,000 jobs; financial activities +10,000; professional and business services +9,000; other services +6,000. ADP chief economist Nela Richardson said: "Job seekers are highly responsive to real-time economic conditions; rapid pay growth indicates supply constraints

ADP reported US seasonally adjusted private nonfarm payrolls rose 44,000 in July, below June’s revised 95,000 and the 75,000 consensus. All net gains were in services (+47,000); goods employment fell 3,000. Education and health added 36,000 jobs; financial activities +10,000; professional and business services +9,000; other services +6,000. ADP chief economist Nela Richardson said: "Job seekers are highly responsive to real-time economic conditions; rapid pay growth indicates supply constraints in parts of the labor market. At the same time, typical hiring patterns are shifting as employers respond to changing macro conditions."